Dateline Aug. 28, 2015: Although the price of silver and gold has been depressed since 2009, the recent lows in silver have encouraged coin buyers. According to Bloomberg, silver coin buyers see bargains and have been on a buying spree of late. While some investors have been selling gold and silver, coin buyers are recognizing bargains and are taking up the slack. Perhaps they are the true investors, following through on the old adage “Buy low, sell high”.
According to the Bloomberg article, coin sales at the U.S. Mint, the world’s largest, are on pace to a reach a record this year. Coin buying is ahead about 13 percent so far this year. Surging demand prompted the Mint to suspend sales last month for more than two weeks because of a lack of inventory. Lance Roberts, a noted Houston-based investment advisor and radio host commented: “Most of the coin buyers are retail investors who see these levels as extremely attractive.”
The US Mint’s most popular silver coin is the American Silver Eagle. At the current silver price, it would be very prudent for most collectors to take advantage of today’s low prices for Silver Eagles.
At the time of this writing, late August 2015, uncirculated American Silver Eagles can be bought for less than $20 each. Why do silver coin buyers see bargains? Because the price is right!
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